'No truth in story of counterfeit security papers'

New Delhi, Feb 6: A report that the watermark design of Indian Security Press being used for producing counterfeit stamps/security paper has been found to be false, the Finance Ministry today said.

''A news report appearing in a section of press on February 3 and 4, 2007 giving the impression that Watermark design of India Security Press for production of Security Paper, was found to be factually incorrect.'' it said, adding that no complaint has been lodged by India Security Press with Police authorities in Delhi on the issue.

The report was based on an incorrect inference drawn from a communication, which was sent by India Security Press to the Commissioner of Police, New Delhi only to help in locating the new address of one of the firm, who had supplied the paper to India Secuity Press during early 1980's and whose new address was not available.

The Watermark design, which was given to this firm for production of low security paper is totally out-dated and has not been in use for the past several years, the ministry release said.

The Public Accounts Committee had issued directives that all the Watermark designs (Dandy Rolls) with the Paper Mills, whether in use or otherwise, should be verified with the private companies and destroyed/defaced where it has not been done already.

To comply with the directions of the PAC, this action was taken to locate the new address of the Mill. However, this initiative of India Security Press was misunderstood, the ministry said.

UNI